Alphabet Inc. $GOOGL is Paradigm Asset Management Co. LLC’s 3rd Largest Position

Paradigm Asset Management Co. LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 41.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,210 shares of the information services provider’s stock after acquiring an additional 10,100 shares during the quarter. Alphabet makes up 1.5% of Paradigm Asset Management Co. LLC’s holdings, making the stock its 3rd largest holding. Paradigm Asset Management Co. LLC’s holdings in Alphabet were worth $6,029,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its stake in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the period. Smart Money Group LLC grew its stake in Alphabet by 9.4% in the first quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after purchasing an additional 532 shares in the last quarter. ESG Planning DBA Harper Investing increased its holdings in Alphabet by 29.2% during the 1st quarter. ESG Planning DBA Harper Investing now owns 23,365 shares of the information services provider’s stock worth $3,613,000 after purchasing an additional 5,277 shares during the period. Finally, Sage Private Wealth Group LLC increased its holdings in Alphabet by 2.7% during the 1st quarter. Sage Private Wealth Group LLC now owns 3,808 shares of the information services provider’s stock worth $589,000 after purchasing an additional 100 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 3.0%

NASDAQ:GOOGL opened at $292.81 on Thursday. The stock has a market capitalization of $3.53 trillion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $303.81. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $260.23 and a 200 day moving average of $211.57.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the completion of the transaction, the director directly owned 4,516 shares of the company’s stock, valued at $1,264,750.96. This trade represents a 11.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the sale, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 192,674 shares of company stock valued at $48,454,423. 11.64% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. Mizuho set a $325.00 price target on Alphabet in a research report on Thursday, October 30th. Robert W. Baird increased their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Wolfe Research reissued an “outperform” rating and set a $350.00 target price (up previously from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, China Renaissance increased their price objective on shares of Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $305.33.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.